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Sep 25, 2012 9:00am EDT
. as part of a health-care law new 320% tax on investment income of single taxpayers earning $200,000, goes into effect. these amounts are not indexed for inflation and with scheduled expiration of the 2001-2003-2010 tax relief at the end of this year capital gains will be subject to a 23.8% tax beginning in 2013, 59% increase. the united states has the most progressive tax system in the industrialized world. to make it more progressive by raising tax rate on capital gains. the top-10% of households pay 70% of all federal income taxes so when is enough achieved? 50 years ago a tax scholar wrote everything on the problem of capital gains has been said. i disagree. i think the issue of preferential treatment of capital gains is critically important with new evidence being generated as witnessed by the joint report of the staff of the joint committee on taxation and congressional budget office issued in june. we have a distinguished panel here with us today. i welcome each one of you to this hearing and we all have a desire to hear what these witnesses have to say. >> thank you. without object
Sep 26, 2012 12:00pm EDT
support that aspect of the health-care overhaul? and if so what do you say to seniors in the seventh district who are worried about their health care? bera: they have been saying democrats want to cut $700 billion out of medicare. you know that is not true. in fact you voted for the same thing yourself twice. that $700 billion never lees medicare and extend the life of medicare. sacramento looked at this and said that was entirely false. congressman, you know the truth. you voted for the same legislation twice. we have to get serious about medicare and this is what i tell my seniors in this district. as a doctor i sat with them where they had to decide between one medication and another when they needed both and could afford both. we have to secure motive--medicare. let's get rid of fraud and abuse. let's negotiate on a fair playing field. let's make this about patients and not the health insurance industry. let's practice prevention. prevent the heart attack and diagnose cancer early to save the life. not only good medicine but will save lives and cut costs. let's cut bureaucracy. l
Search Results 0 to 1 of about 2